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Published on Oct 20, 2016
TheStreet's
Action Alerts PLUS Portfolio Manager Jim Cramer says it appears that
oil services stocks like Halliburton and Schlumberger may have hit a
bottom and could be poised to move higher. Cramer says. "the group is
bottoming in the same way that the airlines bottomed at the end of
June." One reason Cramer believes the sector may have bottomed is that
rig count is starting to go up again. "$50 is the new $40 and at $50 a
lot of the companies in the Permian (basin) are making good money," says
Cramer.
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